Rajaratnam Asks Full 2nd Circ. To Rehear Insider Trading Case

Law360, Los Angeles (July 24, 2013, 9:35 PM EDT) -- Former Galleon Group LLC founder Raj Rajaratnam, the hedge fund boss at the center of a sprawling government probe into insider trading, asked the Second Circuit for an en banc rehearing Wednesday in his conviction, claiming the ruling contradicted court precedent over cellphone wiretaps.

Last month, the appellate court upheld a lower court's ruling in favor of prosecutors' use of a controversial cellphone wiretap and its 11-year prison sentence for Rajaratnam, who led Galleon until its demise.

Rajaratnam claims that all courts of appeals require, at...
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